China’s Haima Aims To Take On Tata, M&M With Its Sub-Rs 10-Lakh Electric Vehicle
Chinese automaker FAW-owned Haima Automobile Company Ltd. plans to launch a battery-powered hatchback in India at a price below Rs 10 lakh as the nation rushes to push cleaner transport to curb emission.
Haima New Energy, a wholly owned subsidiary of Haima Automobile, partnered Bird Electric Corp to launch the EV1+ in India. It’s the second Chinese automaker to announce its foray into the country at the Auto Expo 2020 being held in Greater Noida, and the third entrant in the last one year. On Wednesday, Great Wall Motors Co. said it would invest around $1 billion in India and launch its first product next year. Last year, SAIC Corp-owned MG Motors entered the country with SUV Hector, touted as India’s first internet car, followed by an electric SUV ZS in January.
The automakers’ electric car plans are betting on India’s efforts to move toward cleaner energy in everything from vehicles to power plants to contain pollution and reduce oil imports. In the past six years, according to Bloomberg data, around 8,000 electric vehicles have been sold in India. Among others, Hyundai Motor Company Ltd., Tata Motors Ltd. and Mahindra & Mahindra Ltd. have built an electric vehicle portfolio.
With the sub-Rs 10-lakh price point, Haima EV1+ will compete with Tata Motors’ Nexon EV and M&M’s eKUV 100.
The battery-powered vehicle, with a range of 200 km, will be launched in the next 15-18 months and will be manufactured at a new facility in Manesar (Haryana), Ankur Bhatia, executive director at Bird Group, told BloombergQuint in an interview. The firm, Bhatia said, was exploring options for setting up a charging infrastructure, but the final call will be taken closer to the launch of the vehicle.
Haima and Bird Electric together aim to spend Rs 200-300 crore prior to the launch of its first product in India, a person aware of the companies’ plans told BloombergQuint.
Watch | Full conversation with Bird Group’s Ankur Bhatia...